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02-46 NASD Announces Nomination Procedures for Regional Industry Member Vacancy on the National Adjudicatory Council
Nomination Deadline: September 5, 2002
Legal & Compliance
National Adjudicatory Council
The purpose of this Special Notice to Members is to advise members of the nomination procedures to fill one upcoming vacancy on the National Adjudicatory Council (NAC). The three-year term of the NAC regional Industry member from the North Region expires in January 2003.
Exhibit I contains information regarding the NAC regional Industry member whose term expires in January 2003. Exhibit II contains a list of all NAC members. The procedures to fill the NAC regional Industry vacancies are outlined in Exhibit III. Also, a Candidate Profile Sheet is included in Exhibit IV.
Members are encouraged to submit nominations for the upcoming NAC vacancy. To nominate a candidate, members should submit a cover letter and the Candidate Profile Sheet (Exhibit IV) to the appropriate Regional Nominating Committee Chair, the NASD District Director, or NASD Corporate Secretary (listed in Exhibit I) by September 5, 2002.
The completed Candidate Profile Sheets will be provided to all Regional Nominating Committee members for review. On or about September 19, 2002, the Regional Nominating Committee will provide NASD members with written notice of the NAC candidate that the Committee proposes for nomination to the National Nominating Committee. Pursuant to Article V, Section 5.3(a) of the NASD Regulation By-Laws, the NASD National Nominating Committee shall nominate all candidates for the NAC for subsequent appointment by the Board.
Questions concerning this Special Notice to Members may be directed to the District Directors listed in Exhibit I or to Barbara Z. Sweeney, Senior Vice President and Corporate Secretary, NASD, at (202) 728-8062 or via e-mail at firstname.lastname@example.org.
National Adjudicatory Council Membership and Function
The NAC consists of 14 members—seven Industry members and seven Non-Industry members. Exhibit II contains a list of all current NAC members. Two Industry members are appointed by the NASD Regulation Board of Directors as at-large members. Five Industry members each represent one of the following geographic regions:
West Region: Hawaii, California, Nevada, Arizona, Colorado, New Mexico, Utah, Wyoming, Alaska, Idaho, Montana, Oregon, and Washington.
South Region: Alabama, Arkansas, Kentucky, Louisiana, Mississippi, Oklahoma, Tennessee, Texas, Florida, Georgia, North Carolina, South Carolina, Puerto Rico, Virginia, Canal Zone, and the Virgin Islands.
Central Region: Iowa, Kansas, Minnesota, Missouri, Nebraska, North Dakota, Ohio, South Dakota, Illinois, Indiana, Michigan, Western New York state, and Wisconsin.
North Region: Delaware, Maryland, Pennsylvania, West Virginia, District of Columbia, New Jersey, Connecticut, Maine, Massachusetts, New Hampshire, Rhode Island, Vermont, and New York (except for New York City, Long Island, and Western New York state).
New York: New York City and Long Island.
We are seeking nominations for the North Region.
According to the NASD By-Laws, the NAC is authorized to act for the NASD Board of Governors in matters concerning:
- appeals or reviews of disciplinary proceedings, statutory disqualification proceedings, or membership proceedings;
- the exercise of exemptive authority; and
- other proceedings or actions authorized by NASD rules.
The NAC also considers and makes recommendations to the Board on enforcement policy and rule changes relating to the business and sales practices of NASD members and ssociated persons.
NAC Industry Member With A Term Expiring In January 2003
North Region (Districts 9 and 11)
NAC Incumbent: Theodore W. Urban
If you are interested in nominating yourself or a colleague to represent the North Region for a three-year term on the NAC, please submit a cover letter and a completed Candidate Profile Sheet (Exhibit IV) to any of the following individuals by September 5, 2002.
Regional Committee Chair
One University Office Park
29 Sawyer Road
Waltham, MA 02453-3483
John P. Nocella
District 9 Director
11 Penn Center
1835 Market Street, 19th Floor
Philadelphia, PA 19103
Gary K. Liebowitz
District 9 Director
581 Main Street, 7th floor
Woodbridge, NJ 07095
District 11 Director
260 Franklin Street, 16th
Floor Boston, MA 02110
Barbara Z. Sweeney
Senior Vice President and Corporate Secretary
1735 K Street NW
Washington, DC 20006
2002 National Adjudicatory Council
|Mary E.T. Beach||Attorney|
|Herbert H. Brown||Attorney|
|David A. DeMuro||Lehman Brothers|
|Alice T. Kane||Blaylock|
|Douglas L. Kelly||A.G. Edwards & Sons, Inc.|
|Philip R. Lochner||Director of Public Companies|
|Mark Madoff||Bernard L. Madoff|
|Philip V. Oppenheimer||Oppenheimer & Close, Inc.|
|Mark A. Sargent||Villanova University School of Law|
|Richard O. Scribner||Recording for the Blind & Dyslexic|
|William A. Svoboda||Morgan Stanley|
|Theodore W. Urban||Ferris, Baker Watts, Incorporated|
|Barbara L. Weaver||Legg Mason Wood Walker, Inc.|
|Elliott J. Weiss||University of Arizona College of Law|
National Adjudicatory Council Nomination Procedures
Additional information pertaining to the National Adjudicatory Council Election Procedures can be found in Article VI of the By-Laws of NASD Regulation. The By-Laws can be found in the online NASD Manual at www.nasd.com.
EXHIBIT IV Candidate Profile Sheet
|Firm:||#RRs at Firm:|
|Prior Employment (List the most recent first. Feel free to include extra pages if necessary.)|
|General Areas of Expertise (please check all that apply)||Product Expertise (please check all that apply)|
|• Compliance/Legal||• Investment Advisory||• Corporate Bonds||• Investment Company|
|• Corporate Finance||• Retail Sales||• Direct Participation Programs||• Options|
|• Financial/Operational||• Trading/Market Making||• Equity Securities||• Variable Contracts Securities|
|• Institutional Sales||• Other||• Municipal/Government Securities||• Other|
|Memberships/Positions Held in Trade or Business Organizations|
|Past NASD Experience and Dates of Service (please check all that apply)|
|Committee Member (Identify committee:)||Approx. Dates:|
|Expert Witness (arbitrations; disciplinary proceedings):||Approx. Dates:|